MG MGB and MGB GT Tech Talk
I have the opportunity to purchase a 1979 russet brown mgb with 15,000 original miles for $10,000 US. Car has no rust, terrific condition, and original tires. Certified MG mechanic services annually. The mechanic advises that he fixes issues caused by lack of driving. Good price or not?
Chuck,
Thanks for your comment. How much do you think a car like that would be worth?
Rusty York
Did everyone read $15K original miles? Sure the color may not be the best (no offense Rusty if brown is your favorite color) but it's an original car with very, very low miles. I've seen LE's go for more (I know, it's not an LE, but it's still an original, low mileage car with no rust, and all certified services).
If it's too much, it's not by much.
Depends what you want to do with it. For yourself to keep and drive, 10k may be all right. To sell for profit, don't count on it.
Well, the 15,000 original miles makes it worth a bit more than a daily driver but also presents some problems...original tires means 4 new ones if you want to drive it...mechanic says maintenance was because it has been sitting so long so there are probably lots of other systems that need some attention to become a daily driver....is $10,000 too much? I don't know..in Alabama its probably right on or a bit high...Chuck knows the market in Indiana...
...my old granddad told me 2 things of importance when buying a car:
1) the guy who mentions price first usually loses, and
2) cash talks
...so, carry over a bunch of hundred dollar bills at the level you want to pay & flash them as your top dollar...you'll be surprised how low he might go
Why not take a quick tour of 1979 B's for sale around the US.
<http://www.collectorcartraderonline.com/adsearch.html>
By doing this you get a nice feel for B's and their value.
There is a B listed in FL, for about the same money, but restored.
<http://adcache.collectorcartraderonline.com/10/6/4/45139064.htm>
Don't ever get in a hurry and rush your decision, because there are a lot of nice B's out and about and one is meant for you.
IF the 15k miles is true and provable, that is documented, it probably isn't too bad, but a bit high in my estimation. The reason I say this is I regularly see a 12k mile car at local shows, and both Tony and JDW have convinced me that the only thing that has 12k miles on it in that car is the odometer. I am always sceptical about low mileage cars, and adjust my prices to what the car is and it's condition regardless of mileage
If the miles are real and the car is original (as in no "improvements"), unmolested and unrestored I think this price is realistic. This would be a collector car, not a driver.
Richard
Al, shouldn't you be registered with a local car club or something?
Allright, I'll say it. Paying a premium for an ultra-low mileage car is dumb. With classic cars, what matters isn't total miles, it's how well the car has been cared for/restored during those miles. My 77 B was a thousand percent better 20,000 miles AFTER I bought it. A car like that can't be driven or you ruin the one thing you paid the most for... a low odometer. So it sits, as a collectible.
Well, a wise man once said to me: "Never invest in anything that leaks oil, 'less it's drilling for it."
It doesn't matter if it is legal or not!! He gets away with it!!
I disagree. A low-mileage original car is more valuable than almost any "restored" car. I'd rather deal with a unrestored original car than some DPO's idea of restoration. Your '77 being one thousand percent better after you bought it only says you bought a POS.
Richard
Nothing wrong with buying a POS. That's what mine was and I screwed it up all by myself.
OK, just click on this to get the pictrure I tried to post.
<http://community.webshots.com/sym/image2/8/1/34/52380134XJDhwT_ph.jpg>
